Horizon 2040 report: poverty in the shadow of prosperity

October 10, 2025 by
Era Balaj

Despite a high level of wealth, poverty persists in Belgium. The Horizon 2040 report by the King Baudouin Foundation and Bruno Colmant's perspective invite us to confront this paradox.

‘Around 22-23% of the Belgian population remains in poverty, which is almost one in five Belgians,’ notes Bruno Colmant, a member of the Royal Academy of Belgium. Behind this percentage lie entire lives ravaged by exclusion, generations that follow one another without ever seeing the doors to emancipation open. Horizon 2040, a forward-looking initiative by the King Baudouin Foundation, brings this reality to the table and imagines seven possible futures to spark debate.

Economic wealth vs social poverty

Belgium is prosperous, yet poverty remains persistent. The disconnect is not only economic. It affects citizenship, education, health and culture. In other words, it undermines everything that forms the basis of belonging to a society. According to Bruno Colmant, poverty divides territories, separates neighbourhoods and creates social groups that coexist in parallel worlds but no longer communicate with each other. ‘The worst thing is ultimately the abandonment linked to loneliness,’ adds the economist. The risk is therefore that we will see a society that coexists but no longer understands each other.

The invisible faces of exclusion 

The Horizon 2040 report also emphasises this point: poverty is not just about money. It affects health, education, housing and social relationships. Bruno Colmant reiterated this during the monthly "ESG For All" event at Beci: 'Poverty goes beyond the financial issue alone; there are also many other factors, such as isolation and administrative overload.' Therefore, distributing money is not always enough to get someone back on track: other obstacles still stand in the way.

Yves Dario, project coordinator at the King Baudouin Foundation, makes the same observation: 'Poverty is not just about a lack of money, it is a much broader concept than that; it is also about lacking a social network.' Those who suffer from it must constantly improvise solutions and be inventive. However, they also face shame, isolation and the fatigue of having to justify every step they take. All these invisible obstacles hinder access to aid and opportunities.

Seven scenarios for the same society 

With Horizon 2040, the King Baudouin Foundation opens the discussion and outlines seven scenarios, based on sixteen variables, ranging from robotisation to social cohesion. ‘These narratives are not predictions,’ Yves Dario points out. ‘They serve to reflect on the choices we want to make collectively.’

Some narratives describe a Belgium that has managed to reduce its divisions through coherent policies and collaboration between public, private and voluntary actors. Others show an even more divided country, where poverty is spreading as crises unfold. For the member of the Royal Academy, the lesson is simple (in theory): 'Poverty will not disappear on its own. If we do not treat it as a priority, it risks destroying the cohesion of our society.'

How can we break the cycle? For Bruno Colmant, part of the answer lies in education and local support: 'If we give young people confidence, if we are able to show them the way, they will feel comfortable.'  Schools, training programmes and human connections in neighbourhoods help to rebuild confidence. Conversely, feelings of abandonment widen the divide and fuel resignation.

Yves Dario stresses the need to anticipate future transitions. The digital revolution and climate transition will reshape the world of work. They can create new opportunities, but they can also reinforce inequalities if we fail to bridge the digital gap and support those who lose out in the transition.

What can businesses do? 

When asked about the responsibility of the private sector, Bruno Colmant does not exempt it: businesses primarily have an economic purpose, but they can also be a lever for inclusion. 'My dream would be... a business that is able to say: right, I want to train my staff on these issues. That would change everything.' Training, recruiting differently, creating partnerships with voluntary organisations: these are actions that can, on their own scale, help to break the poverty cycle. However, these initiatives must be long-term in order to avoid the window-dressing effect.

Poverty in Belgium is neither inevitable nor a temporary anomaly. It says something about our collective priorities. Horizon 2040 outlines several possible futures, but they all raise the same question: what are we prepared to do to reduce exclusion? ‘Poverty is the shadow cast by our prosperity,’ summarise the two experts. A shadow that there is no point in denying, but which can still be illuminated.


Every month, the ‘ESG For All’ cycle examines social and governance issues. See you on 14 October for the next edition, ‘Heat Brussels, not the planet!’. Register here

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